VANCOUVER, March 8, 2016 /CNW/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSXV:NXE) is pleased to
report assay results for five angled holes from our winter 2016
drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.
Hole AR-16-63c2 has intersected 42.0 m at 15.20%
U3O8 and an additional 46.5 m at
12.99% U3O8 in the higher grade A2
sub-zone (the "Sub-Zone"). When including the 3.5 m of
un-mineralized core separating the two mineralized intervals, the
hole returned 92.0 m at 13.51% U3O8.
This represents a grade x thickness ("GT") of 1,243.
In addition to AR-16-63c2, holes AR-16-63c1, -64c1 and -64c2
intersected continuous GT's in the Sub-Zone of 203, 338 and
541, respectively. These four holes have significantly expanded
the current A2 high grade domain.
The A2 high grade domain is quantified up to the end of the
summer 2015 drill program with a recently completed National
Instrument 43-101 compliant Inferred Mineral Resource estimate of
120.5 M lbs of U3O8 contained in 0.41 M tonnes grading 13.26% U3O8,
which is part of the total Arrow Deposit Inferred Mineral Resource
estimate of 201.9 M lbs of U3O8 contained in 3.48 M tonnes grading
2.63% U3O8 (see news release dated March 3,
2016). None of the holes announced in this news release were
included in the resource estimate.
Highlights:
A2 Sub-Zone
- AR-16-63c2 (19 m up-dip and to the southwest from
AR-15-44b) intersected 42.0 m at 15.20%
U3O8 (458.0 to 500.0 m) including 7.0 m
at 52.91% U3O8 (488.5 to 495.5 m)
and an additional 46.5 m at 12.99% U3O8
(503.5 to 550.0 m) including 4.0 m at 53.48%
U3O8 (530.0 to 534.0 m).
- AR-16-64c2 (30 m up-dip and to the northeast from
AR-15-44b) intersected 48.5 m at 11.15%
U3O8 (491.0 to 539.5 m) including 3.0 m
at 52.35% U3O8 (498.5 to 501.5 m).
- AR-16-64c1 (21 m up-dip and to the southwest from
AR-15-49c2) intersected 48.5 m at 6.97%
U3O8 (433.5 to 482.0 m) including 3.0 m
at 52.13% U3O8 (469.0 to
472.0).
- AR-16-63c1 (7 m up-dip and to the northeast from
AR-15-58c1) intersected 45.0 m at 4.51%
U3O8 (432.5 to 477.5 m) including 8.0 m
at 20.15% U3O8 (464.5 to 472.5
m).
Table 1: Higher Grade A2
Sub-Zone Angled Drill Holes
2015
|
AR-15-59c22
|
AR-15-54c12
|
AR-15-58c12
|
AR-15-622
|
AR-15-44b2
|
AR-15-49c22
|
AR-15-57c32
|
Total composite
mineralization =
|
75.50 m
|
42.00 m
|
86.00 m
|
143.00 m
|
135.60 m
|
73.50 m
|
62.50 m
|
Total Off-scale
(>10,000 to 29,999 cps)3 =
|
11.40 m
|
5.90 m
|
14.30 m
|
17.75 m
|
30.25 m
|
15.70 m
|
4.40 m
|
Total Off-scale
(>30,000 to 60,999 cps)3 =
|
4.50 m
|
3.00 m
|
3.85 m
|
10.60 m
|
7.75 m
|
5.20 m
|
2.50 m
|
Total Off-scale
(>61,000 cps)3 =
|
1.00 m
|
0.50 m
|
2.00 m
|
2.00 m
|
1.50 m
|
2.15 m
|
1.80 m
|
Continuous GT (Grade
x Thickness) =
|
371
|
277
|
200 and
345
|
787
|
655
|
605
|
319
|
2016
|
AR-16-63c11
|
AR-16-63c31
|
AR-16-63c21
|
AR-16-64c31
|
AR-16-64c21
|
AR-16-64c11
|
Total composite
mineralization =
|
55.50
m
|
147.00 m
|
138.00
m
|
102.00 m
|
76.00
m
|
74.0
m
|
Total Off-scale
(>10,000 to 29,999 cps)3 =
|
6.85
m
|
22.10 m
|
17.10
m
|
18.75 m
|
15.95
m
|
10.30
m
|
Total Off-scale
(>30,000 to 60,999 cps)3 =
|
0.50
m
|
3.00 m
|
9.90
m
|
2.50 m
|
4.70
m
|
3.70
m
|
Total Off-scale
(>61,000 cps)3 =
|
0.00
m
|
0.50 m
|
13.85
m
|
0.00 m
|
5.50
m
|
0.00
m
|
Continuous GT (Grade
x Thickness) =
|
203
|
Assays
Pending
|
638 and
604
|
Assays
Pending
|
541
|
338
|
|
1
radioactivity results previously released
|
2
radioactivity and assays results previously
released
|
3
minimum radioactivity using RS-120 gamma
spectrometer
|
Arrow, Activities & Financial
- The land-based and basement hosted Arrow Deposit currently
covers an area of 670 m by 235 m with a vertical extent of
mineralization commencing from 100 m to 920 m, and remains
open in all directions and at depth.
- The winter 2016 program comprising 30,000 m of drilling
continues with six rigs.
- The Company remains on track for release of an updated NI
43-101 resource estimate on the Arrow Deposit due in the second
half of 2016
- The Company has cash on hand of approximately $31M.
A three-dimensional view of the A2 Sub-Zone, drill hole
locations and the A2 and A3 long sections are shown in figures 1 to
5. Table 2 shows assay results.
Garrett Ainsworth,
Vice-President, Exploration and Development, commented "The
commencement of infill drilling of the higher grade A2 sub-zone has
immediately returned five continuous GT's ranging from 203 to 638
in four holes. These high grade assay intervals from holes
AR-16-63c2 and -64c2 extend outside the current A2 high grade
shell, on which the maiden NI43-101 inferred mineral resource was
estimated as it only incorporates up to hole AR-15-62. Denser
spaced drilling of the A2 sub-zone continues."
Leigh Curyer, Chief Executive Officer commented "This winter
2016 program at such an early stage is clearly becoming our most
successful to date. The development of Arrow continues
rapidly."
Table 2: Arrow
Zone Assay Results
|
Drill
Hole
|
Athabasca
Group -
Basement
Unconformity
Depth (m)
|
SRC Geoanalytical
Results
|
Grade
(U3O8%) x
Thickness
(m) (GT)
|
Hole
ID
|
Azimuth
|
Dip
|
Total
Depth
(m)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
U3O8
(wt%)
|
AR-16-59c5
|
153
|
-76
|
915.00
|
102.20
|
543.00
|
567.00
|
24.00
|
0.29
|
6.96
|
|
|
|
|
|
602.00
|
604.50
|
2.50
|
0.06
|
0.15
|
|
|
|
|
|
607.00
|
611.00
|
4.00
|
0.07
|
0.28
|
|
|
|
|
|
631.00
|
632.00
|
1.00
|
0.29
|
0.29
|
|
|
|
|
|
723.50
|
724.00
|
0.50
|
0.06
|
0.03
|
|
|
|
|
|
779.50
|
780.50
|
1.00
|
0.10
|
0.10
|
|
|
|
|
|
787.50
|
792.00
|
4.50
|
0.11
|
0.50
|
|
|
|
|
|
798.50
|
815.50
|
17.00
|
1.10
|
18.70
|
|
|
|
|
|
821.00
|
839.00
|
18.00
|
0.69
|
12.42
|
|
|
|
|
|
842.50
|
843.00
|
0.50
|
0.04
|
0.02
|
|
|
|
|
|
866.00
|
867.00
|
1.00
|
0.09
|
0.09
|
|
|
|
|
|
899.00
|
900.00
|
1.00
|
0.08
|
0.08
|
AR-16-63c1
|
156
|
-74
|
592.00
|
109.10
|
432.50
|
477.50
|
45.00
|
4.51
|
202.95
|
|
|
|
|
including
|
464.50
|
472.50
|
8.00
|
20.15
|
|
|
|
|
|
493.00
|
499.50
|
6.50
|
0.03
|
0.20
|
|
|
|
|
|
505.00
|
517.00
|
12.00
|
0.02
|
0.24
|
|
|
|
|
|
522.00
|
527.00
|
5.00
|
0.03
|
0.15
|
|
|
|
|
|
538.00
|
538.50
|
0.50
|
0.02
|
0.01
|
|
|
|
|
|
545.00
|
545.50
|
0.50
|
0.01
|
0.01
|
AR-16-63c2
|
156
|
-74
|
657.00
|
109.10
|
417.00
|
419.00
|
2.00
|
0.03
|
0.06
|
|
|
|
|
|
438.00
|
452.00
|
14.00
|
0.82
|
11.48
|
|
|
|
|
|
458.00
|
500.00
|
42.00
|
15.20
|
638.40
|
|
|
|
|
including
|
469.00
|
500.00
|
31.00
|
20.09
|
|
|
|
|
including
|
482.00
|
486.50
|
4.50
|
51.01
|
|
|
|
|
including
|
488.50
|
495.50
|
7.00
|
52.91
|
|
|
|
|
|
503.50
|
550.00
|
46.50
|
12.99
|
604.04
|
|
|
|
|
including
|
511.50
|
538.50
|
27.00
|
19.98
|
|
|
|
|
including
|
530.00
|
534.00
|
4.00
|
53.48
|
|
|
|
|
|
558.50
|
569.00
|
10.50
|
2.32
|
24.36
|
|
|
|
|
|
571.50
|
583.50
|
12.00
|
4.06
|
48.72
|
|
|
|
|
|
587.50
|
611.00
|
23.50
|
0.05
|
1.18
|
|
|
|
|
|
617.00
|
618.00
|
1.00
|
0.01
|
0.01
|
|
|
|
|
|
621.50
|
649.00
|
27.50
|
0.04
|
1.10
|
|
|
|
|
|
656.00
|
657.00
|
1.00
|
0.01
|
0.01
|
AR-16-64c1
|
154
|
-73
|
729.00
|
108.00
|
433.50
|
482.00
|
48.50
|
6.97
|
338.05
|
|
|
|
|
including
|
467.00
|
479.50
|
12.50
|
20.42
|
|
|
|
|
including
|
469.00
|
472.00
|
3.00
|
52.13
|
|
|
|
|
|
485.00
|
490.00
|
5.00
|
0.23
|
1.15
|
|
|
|
|
|
496.50
|
513.50
|
17.00
|
0.02
|
0.34
|
|
|
|
|
|
528.50
|
534.50
|
6.00
|
0.10
|
0.60
|
|
|
|
|
|
584.50
|
590.50
|
6.00
|
0.15
|
0.90
|
|
|
|
|
|
598.00
|
600.00
|
2.00
|
1.97
|
3.94
|
|
|
|
|
|
602.00
|
602.50
|
0.50
|
0.36
|
0.18
|
|
|
|
|
|
610.50
|
616.50
|
6.00
|
0.09
|
0.54
|
|
|
|
|
|
622.50
|
630.50
|
8.00
|
0.55
|
4.40
|
|
|
|
|
|
633.00
|
639.00
|
6.00
|
1.79
|
10.74
|
|
|
|
|
|
642.00
|
653.00
|
11.00
|
1.87
|
20.57
|
|
|
|
|
|
666.50
|
669.00
|
2.50
|
0.65
|
1.63
|
|
|
|
|
|
688.00
|
688.50
|
0.50
|
1.74
|
0.87
|
|
|
|
|
|
691.50
|
695.50
|
4.00
|
1.73
|
6.92
|
AR-16-64c2
|
154
|
-73
|
591.00
|
108.00
|
414.00
|
414.50
|
0.50
|
0.04
|
0.02
|
|
|
|
|
|
452.50
|
456.00
|
3.50
|
0.46
|
1.61
|
|
|
|
|
|
460.00
|
484.50
|
24.50
|
2.65
|
64.93
|
|
|
|
|
|
491.00
|
539.50
|
48.50
|
11.15
|
540.78
|
|
|
|
|
including
|
497.00
|
523.50
|
26.50
|
20.13
|
|
|
|
|
including
|
498.50
|
501.50
|
3.00
|
52.35
|
|
|
|
|
|
557.00
|
558.50
|
1.50
|
0.07
|
0.11
|
|
|
|
|
|
572.00
|
572.50
|
0.50
|
0.04
|
0.02
|
|
|
|
|
|
576.00
|
579.50
|
3.50
|
0.05
|
0.18
|
Composite parameters:
- Minimum thickness 0.5 m downhole
- Cutoff grade 0.01% U3O8
- Maximum internal dilution 2.00 m downhole
- U3O8 analyzed by ICP-OES at SRC Laboratories, Saskatoon, Saskatchewan
- All depths and intervals are meters downhole, true thicknesses
are yet to be determined
Split core samples were taken systematically, and intervals were
submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025:
2005 Accredited Facility) of Saskatoon for analysis. All samples were
analyzed using ICP-MS for trace elements on partial and total
digestions, ICP-OES for major and minor elements on a total
digestion, and fusion solution of boron by ICP-OES. Mineralized
samples were analyzed for U3O8 by ICP-OES and selected samples for
gold by fire assay.
All assay batches reported herein are subjected to and have
passed rigorous internal QA/QC protocols that include, but are not
limited to, the blind insertion of standard reference
materials, blank materials and field duplicates into the sample
stream at both random and systematic intervals.
The technical information in this news release has been approved
by Garrett Ainsworth, P.Geo., Vice
President – Exploration & Development, a qualified person for
the purposes of National Instrument 43-101 – Standards of
Disclosure for Mineral Projects. Mr. Ainsworth reviewed the
data disclosed in this news release, including the sampling,
analytical and test data underlying the information contained in
this news release. Mr. Ainsworth has verified that the results are
accurate by reviewing the official assay certificates provided to
the Company and monitoring all of the data collection
protocols.
About NexGen
NexGen is a British Columbia
corporation with a focus on the acquisition, exploration and
development of Canadian uranium projects. NexGen has a highly
experienced team of uranium industry professionals with a
successful track record in the discovery of uranium deposits and in
developing projects through discovery to production.
NexGen owns a portfolio of highly prospective uranium
exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100%
interest in Rook I, location of the Arrow Discovery in February 2014 and Bow Discovery in March 2015.
The TSXV has neither approved nor disapproved the contents of
this press release. Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information
This news release contains "forward-looking information"
within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is
not limited to, statements with respect to the activities, events
or developments that the Company expects or anticipates will or may
occur in the future, including, without limitation, the anticipated
timing for an updated mineral resource based on 2016 drilling,
growth potential and planned exploration activities.
Generally, but not always, forward-looking information and
statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the
negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that the results of
planned exploration activities are as anticipated, the price of
uranium, the anticipated cost of planned exploration activities,
that general business and economic conditions will not change in a
material adverse manner, that financing will be available if and
when needed and on reasonable terms, and that third party
contractors, equipment and supplies and governmental and other
approvals required to conduct the Company's planned exploration
activities will be available on reasonable terms and in a timely
manner. Although the assumptions made by the Company in providing
forward-looking information or making forward-looking statements
are considered reasonable by management at the time, there can be
no assurance that such assumptions will prove to be
accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, uncertainty of mineral resource estimate, pending assay
results may not be consistent with preliminary results, alternative
sources of energy, aboriginal title and consultation issues,
reliance on key management and other personnel, potential downturns
in economic conditions, actual results of exploration activities
being different than anticipated, changes in exploration programs
based upon results, availability of third party contractors,
availability of equipment and supplies, failure of equipment to
operate as anticipated; accidents, effects of weather and other
natural phenomena and other risks associated with the mineral
exploration industry, environmental risks, changes in laws and
regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company
undertakes no obligation to update or reissue forward-looking
information as a result of new information or events except as
required by applicable securities laws.
SOURCE NexGen Energy Ltd.